Showing papers by "Peter Howitt published in 1977"
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3 citations
01 Jan 1977
TL;DR: In this article, the qualitative nature of these effects can be predicted unambiguously from a modified version of consumer theory under fairly special assumptions, such as false trading and cash-constraint effects.
Abstract: It is well known that false trading may cause spillover effects and cash- constraint effects that cannot be characterized adequately by traditional consumer theory. Several authors have shown how these effects can be deduced from a suitably modified version of consumer theory under fairly special assumptions.1 This paper is an attempt to determine under what general assumptions the qualitative nature of these effects can be predicted unambiguously from such a theory.
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